Amazon launches its own carbon offset verification framework, Abacus, in partnership with Verra, bypassing the global Integrity Council for the Voluntary Carbon Market (ICVCM) standard. While aiming for a more ambitious approach to achieve zero net greenhouse gas emissions by 2040, the move faces criticism for potentially compromising market standards and causing confusion.
Amazon Backs New Carbon Offset Standard Amid Criticism
Amazon has become the first company to bypass the global Integrity Council for the Voluntary Carbon Market (ICVCM) standard, developing its own carbon offset verification framework named Abacus alongside Verra. This move aims to address the limited supply of quality-labeled offsets to help achieve Amazon’s goal of zero net greenhouse gas emissions by 2040. Critics, however, express concerns over potential market confusion and compromised standards.
Amazon’s new standard is intended to provide a more ambitious approach than ICVCM’s, stating it wants every credit investment to have a verified impact on emissions. The Abacus framework will be available within weeks and any developer can apply for the label, provided they meet Verra’s stringent methodology.
Amazon, generating 71.3 million tons of carbon dioxide emissions in 2022, plans to become a significant buyer of carbon credits, with commitments from other major corporations, including Alphabet, Meta, Microsoft, and Salesforce, to purchase up to 20 million metric tons of Abacus-certified credits.
Critics, including several environmental NGOs and scholars, remain skeptical, questioning Abacus’ ability to ensure the permanence of carbon removals and the potential of offset credits to genuinely neutralize emissions. Some NGOs have even called for excluding such offsets from net-zero targets, warning they may undermine real-world emission reductions and delay necessary systemic changes.
